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Apr 15, 2013
04/13
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income tax. there are sneaky taxes that most of you may not even know about that. >> we pay them all day long from the moment i wake up and turn on the light. i pay more when i brush my teeth, license my dog, my building pays property taxes and when they leave home to take the subway i paid the metropolitan commuter one negative commuter tax. i make phone calls or get a bite to eat, soda and drink drink, when a gas up my car as much as one-quarter of the price is the state and city excise taxes. people pay sales taxes all day long. so many taxes. i need a drink. i am lucky i don't smoke. this is one reason american economic growth has stalled says scott hodge president of the tax foundation. when i think of these rules i think of safety regulations and the constant spiderweb not the tax code. we have done okay with the tax code. >> the tax code is a mess because of the 70,000 pages that dictate virtually every aspect of our lives and cost americans 6 billion hours of our time just to comply. six
income tax. there are sneaky taxes that most of you may not even know about that. >> we pay them all day long from the moment i wake up and turn on the light. i pay more when i brush my teeth, license my dog, my building pays property taxes and when they leave home to take the subway i paid the metropolitan commuter one negative commuter tax. i make phone calls or get a bite to eat, soda and drink drink, when a gas up my car as much as one-quarter of the price is the state and city excise...
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Jun 12, 2011
06/11
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the fair tax, the proposal to replace all income and payroll taxes with a 23% national sales tax and presidential candidates have run on it and lost in the past. most notably governor mike huckabee in 2008. and this time around, it's businessman herman cain who has picked up the fair tax issue and i spoke to cain earlier this week and asked the g.o.p. hopeful if he thinks he can win the nomination proposing a 23% tax on everything that americans buy? >> the answer is yes for the following reasons, first of all, it replaces the federal income tax, it replaces the fica tax currently taken out and we're still raising the same amount of money, secondly, the fair tax moves taxation from a decision by the government on your income to a decision made by the consumer based upon that purchased behavior. so, that's one of the big advantages. now, the other big advantage is that you'll raise the same amount of revenue of 23% because the consumption base is bigger than the income base. >>, but the push tax commission when they looked at it actually the tax rate you have to have to raise the same
the fair tax, the proposal to replace all income and payroll taxes with a 23% national sales tax and presidential candidates have run on it and lost in the past. most notably governor mike huckabee in 2008. and this time around, it's businessman herman cain who has picked up the fair tax issue and i spoke to cain earlier this week and asked the g.o.p. hopeful if he thinks he can win the nomination proposing a 23% tax on everything that americans buy? >> the answer is yes for the following...
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Dec 18, 2010
12/10
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sales tax? >> a flat tax is better. that answers neil's concerns. a national sales tax has problems to put in. first, it's 30%. that's political poison. you have enforcement problem, too. service, if a kid cuts your lawn, you pay 30% tax on that. i don't think so. >> but it would be great to get rid of the 1,000 page tax code. >> no kidding. if a meet yore hit the planet, three things would be left taxes. tax code, cockroaches and cher. sorry about that. i'm for a sales tax. probably the fairest way to go. you earn what you keep. we didn't have income tax in the first years. texas and florida have a sales tax system. 45 states are collecting the sales taxes. fairest way to go. four out of ten americans are out of compliance with the existing tax code. >> it might be fair or a fairer way to go, but milton freeman didn't like it because it was too good. too efficient at collecting money for the government we have. >> yeah. there is no way that you would get a sales tax and completely get rid of th
sales tax? >> a flat tax is better. that answers neil's concerns. a national sales tax has problems to put in. first, it's 30%. that's political poison. you have enforcement problem, too. service, if a kid cuts your lawn, you pay 30% tax on that. i don't think so. >> but it would be great to get rid of the 1,000 page tax code. >> no kidding. if a meet yore hit the planet, three things would be left taxes. tax code, cockroaches and cher. sorry about that. i'm for a sales tax....
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Dec 2, 2010
12/10
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not over the bush tax cuts but their tax cuts. the ones included in the president's stimulus last year that are now set to expire this year. the president's team wants to extend them into future years and roll extending jobless benefits into that while they are at it. the cost is $150 billion a year, $1.5 trillion over 10 years. twice what it would cost to, for example, extend the bush tax cuts on the rich over the same 10 years. but here is where it is getting weird. the white house reportedly doesn't have a way to pay for the cuts, something that it has demanded of extending the top bush cuts. carl, man, great job narrating us through the process. talking about throwing a monkey wrench in this. >>reporter: some of the democrats and the republicans in the house of representatives have talked if it is smart to extend the recovery act tax cuts. the stimulus which is controversial and a lot have argued it has not been effective, does expire at the end of the year so the tax cuts would also go away. the president's expression of supp
not over the bush tax cuts but their tax cuts. the ones included in the president's stimulus last year that are now set to expire this year. the president's team wants to extend them into future years and roll extending jobless benefits into that while they are at it. the cost is $150 billion a year, $1.5 trillion over 10 years. twice what it would cost to, for example, extend the bush tax cuts on the rich over the same 10 years. but here is where it is getting weird. the white house reportedly...
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Oct 10, 2009
10/09
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you want an income tax and a consumption tax. is that correct? >> i want a fair tax system. that's correct. >> that's not fair. >> you should run for congress! you can talk out of both sides of your mouth. you're terrific. cheryl: jonathan, look, again what are you going to do blow up the tax system? they're not going to do that. and this is going to be after health care. we're going to have to pay for that. pelosi said this is after health care is over. >> health care, that's cushion. green jobs, green schools, or green cars. speaker pelosi, with all due respect, i think sees her job as redistributing income so whether it's flat tax or sales tax or v.a.t. or income tax, she's going to find, in my opinion, more and more ways to redistribute income from people who actually earn it for a living. so that's what i fear, that no tax plan will uncover the entitlement spending that this government wants to do. cheryl: americans just love to be taxed, don't you? everybody at home. coming up, the mafia moving in on medicare and the american taxpayer is the one getting whacked. now th
you want an income tax and a consumption tax. is that correct? >> i want a fair tax system. that's correct. >> that's not fair. >> you should run for congress! you can talk out of both sides of your mouth. you're terrific. cheryl: jonathan, look, again what are you going to do blow up the tax system? they're not going to do that. and this is going to be after health care. we're going to have to pay for that. pelosi said this is after health care is over. >> health care,...
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Apr 17, 2010
04/10
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cigarette tax up, health care tax up, taxes on drugs, medical devices, insurance policies, taxes on investment. that's before we get to the expiration of the bush tax cuts. somehow or another this administration and democrats in congress expect us to believe they are lessening our tax burden. who are they kidding? >> sean: you were there for the bush tax cuts. they expire the end of this year. how will that impact every person now watching this telecast? >> look, the death tax goes back up. child tax credit gets cut in half. tax rates for everybody who pays income taxes go up with the biggest rate increases for the people at the bottom. we have the compare of tax cuts on dividends and capital gains which will have a direct impact on jobs. the administration is taking the perspective if they continue an existing tax cut that in and of its is self is a tax cut. part of what they are claiming the 800 billion dollars in cuts is continuing the tax code as it now exists. that is not a cut if it is already in the code. it is a increase if you allow that to expire. that is what is going to happen next
cigarette tax up, health care tax up, taxes on drugs, medical devices, insurance policies, taxes on investment. that's before we get to the expiration of the bush tax cuts. somehow or another this administration and democrats in congress expect us to believe they are lessening our tax burden. who are they kidding? >> sean: you were there for the bush tax cuts. they expire the end of this year. how will that impact every person now watching this telecast? >> look, the death tax goes...
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Sep 18, 2011
09/11
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tax and tax on capital gains. question, what do you think that would do for the economy? >> it would boost the economy and here is why. think about the fact that corporations now are looking at for the next year and a few months a 35% top corporate tax rate. to wake up and say you mean the tax rate is going to be 9% that is going to inspire the business community. secondly, small businesses which generate most of the jobs they are also going to be excited because it going to treat sub chapter s and s corporations the same. but the president doesn't understand, a lot of people don't understand when throws around numbers like everybody making over $250,000 he is going to impose another tax. he is punishing small business sub chapter she supermodel if you ankle out a profit you have to run it through the personal income tax and you could be penalized if you make too much monitoring i have. >> you would lower all of rates and eliminate the deduckses and we would end up with the same at of total revenue for the governm
tax and tax on capital gains. question, what do you think that would do for the economy? >> it would boost the economy and here is why. think about the fact that corporations now are looking at for the next year and a few months a 35% top corporate tax rate. to wake up and say you mean the tax rate is going to be 9% that is going to inspire the business community. secondly, small businesses which generate most of the jobs they are also going to be excited because it going to treat sub...
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Dec 10, 2010
12/10
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you pay property taxes, sales taxes. what percentage of people's income, total tax bill, do you say enough is enough? >> women, i don't though what the exact percentage is. i will say this, remember a lot of where the money come from is supposedly corporations. you know as well as i that you and i pay more in taxes than most fortune 500 companies, 66% of all corporations a zero u.s. taxes. exxon mobile doesn't pay a cent. the keith is, how do you create jobs -- the key is, how do you create jobs? >> sean: apparently in this meeting that took place yesterday, there was a referral to the president as the ing president. we ralph -- as the ifing president. we ralph nader referring to him as a con man meaning president obama. president obama's reacting, calling republicans hostage-takers. what do you make of the rhetoric in washington? >> i did not hear that one comment the first one you said. i will say the hair up on the back of the vice president's neck and those who were there. i think both parties better look at themselv
you pay property taxes, sales taxes. what percentage of people's income, total tax bill, do you say enough is enough? >> women, i don't though what the exact percentage is. i will say this, remember a lot of where the money come from is supposedly corporations. you know as well as i that you and i pay more in taxes than most fortune 500 companies, 66% of all corporations a zero u.s. taxes. exxon mobile doesn't pay a cent. the keith is, how do you create jobs -- the key is, how do you...
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Oct 7, 2012
10/12
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my tax plan. number 2, i will not reduce the share of high-paid income individuals. i know it's a popular thing to say with a lot of people, but it is just not the case. vifive boys. i am used to people saying something that is not always true and keep repeating it and hoping i will believe it. but that is not the case. all right? i will not reduce the taxes paid by high-income americans. number 3, i will not under any circumstances raise taxes on middle-income families. i will lower taxes on middle-income families. you cite a study. six other studies look at the study you describe and say it's wrong. i saw a study that said today you are going to raise taxes $3- to $4,000 on middle-income families. throw the studies out there. the bottom line is, i want to bring the rates down, at the same time, lower deductions and exemptions and credits and so forth so we keep getting the revenue we need. you thinks, why lower the rates? and the reason is because small business pays that individualerate. 54% of
my tax plan. number 2, i will not reduce the share of high-paid income individuals. i know it's a popular thing to say with a lot of people, but it is just not the case. vifive boys. i am used to people saying something that is not always true and keep repeating it and hoping i will believe it. but that is not the case. all right? i will not reduce the taxes paid by high-income americans. number 3, i will not under any circumstances raise taxes on middle-income families. i will lower taxes on...
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Dec 31, 2011
12/11
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they can't afford a flat tax and pay like the rich. >> flat tax. a lot of people don't know what is in it. it is 100,000 pages, isn't it time for a flat tax to make things more certain as far as the taxes are concerned. >> steve is right it is past time to get a flat tax in the country and would help the middle class. they tend to get roped in a complicated system that even i.r.s. workers tell me they don't like the current tax system because it invites tax evasion . the middle class gets dinged with all sorts of complexity. when you see the former communist states in the eastern europe adopting a flat tax and we are left with a code that turns intires in america's museum of confusion. if the former soviet soviet states get it why not us. even iran has a flat tax. >> the markets in 2011 were flat. we end 2011 where we ended 2010 and part it confusion and uncertainty about taxings. >> i don't disagree with a dire overhaul of the tax code. but what wars me. 18.5 gdp federal tax revenue and all of the flat tax proposals run the risk of falling short.
they can't afford a flat tax and pay like the rich. >> flat tax. a lot of people don't know what is in it. it is 100,000 pages, isn't it time for a flat tax to make things more certain as far as the taxes are concerned. >> steve is right it is past time to get a flat tax in the country and would help the middle class. they tend to get roped in a complicated system that even i.r.s. workers tell me they don't like the current tax system because it invites tax evasion . the middle...
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Dec 7, 2010
12/10
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under the bush tax cuts. i am not willing to let that happen. there are some people in that party and other party who would rather prolong the battle even if we can't reach a compromise, but i'm not willing to let working families across the country become klit ral damage for political warfare here in washingto washington. i'm not willing to let the economy slip backwards as we are pulling ourselves out of this devastating recession. i'm not willing to let 2 million americans who stand to lose their unemployment insurance at the end of the month be put in a situation they might lose their hem or car or suffer some additional economic catastrophe. sympathetic as i am for those who prefer a fight over compromise, as much as the political wisdom may dictate fighting over solving problems, it would be the wrong thing to do. the american people didn't send us here to wage symbolic battles or win symbolic victories. they would much rather have the comfort of knowing when they open the first paycheck on january 2011
under the bush tax cuts. i am not willing to let that happen. there are some people in that party and other party who would rather prolong the battle even if we can't reach a compromise, but i'm not willing to let working families across the country become klit ral damage for political warfare here in washingto washington. i'm not willing to let the economy slip backwards as we are pulling ourselves out of this devastating recession. i'm not willing to let 2 million americans who stand to lose...
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Aug 31, 2009
08/09
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quintin hardy brings it into a consumption tax, if you tax what we all buy, everybody pays the tax. >> that sounds fair, doesn't it. if everybody pays, everybody in it for the same extent. >> the rich would pay a smaller amount. surely you don't like this. >> i just like everybody somewhat committed. i think the rich are blessed and should acknowledge that. they should pay more. i think mike makes the most interesting point which is how fast can our economy grow. how much productivity can we generate. we tried tax cuts for the rich. hey, it didn't work. infrastructure spending, better technology, that is what boosts productivity. we should go with that. >> what do you say? >> quentin, they were not tax cuts for the rich, there are hundred million investors. a third of all americans have 40 ks it was a tax cut for all across the board. it wasn't just for the rich. it's shown with fund manager that has tax cuts is what stimulate growth, not oppressive tax increases. >> we ended up with deficits, game over. >>> what do you say john? >> tax cuts on capital gains and dividends improved the
quintin hardy brings it into a consumption tax, if you tax what we all buy, everybody pays the tax. >> that sounds fair, doesn't it. if everybody pays, everybody in it for the same extent. >> the rich would pay a smaller amount. surely you don't like this. >> i just like everybody somewhat committed. i think the rich are blessed and should acknowledge that. they should pay more. i think mike makes the most interesting point which is how fast can our economy grow. how much...
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Nov 12, 2011
11/11
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if you undo the bush tax code raise taxes on lower income americans and raise taxes on middle merrence. discourage job creation and at the same time we have expiring tax crets for depreciation and take that business creation model and capitol investment and eliminate that, too. this is the worst idea i have seen out of politicians. >> let me take it to johnathon. you are a numbers guy. this is happening back in 2001 with the bush tax cut. three dollar rebate for individuals and couples ever will you. and reduction in personal income tax rates. and a lot of these are applauded as good middle class tax breaks and now when you say bush tax cuts, you get a onslaught of criticism. where did we change in 10 years? >> it is the velocity that change. taxes are force. it is government's force and redistributing your own money to the political class and invest entitlements. how can less freedom create wealth. whether it is a 50 percent or 20 percent tax hike. what needs to change is that notion that government spending creates wealth and it is the size and scope of government that needs to chang
if you undo the bush tax code raise taxes on lower income americans and raise taxes on middle merrence. discourage job creation and at the same time we have expiring tax crets for depreciation and take that business creation model and capitol investment and eliminate that, too. this is the worst idea i have seen out of politicians. >> let me take it to johnathon. you are a numbers guy. this is happening back in 2001 with the bush tax cut. three dollar rebate for individuals and couples...
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Apr 16, 2010
04/10
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taxes. >> a little-known secret since the bush tax cuts the share of income tax paid by the wealthy increased. from 80% of all income taxes paid by the top 20% to now 86%. >> reporter: by all sorts of measures, wealthier taxpayers are shouldering more than the bottom percent. >> they earn 37% of the income but pay 60% of all the federal income taxes. the bottom 50% of earners earn about 12% of all the income but pay 3% of all the taxes. >> meeting the top 50% pay a record 97% of income taxes. wage earners below $50,000 in income can easily escape income taxes with standard deductions and tax credits like those for children or the working poor. while that makes the tax system more progressive than it's ever been, some analysts see a risk in that. >> it democratically dangerous to have a country where a majority can vote for policies that just the tax minority. that's the situation we're coming close to. >> as a matter of civics, folks ought to pay something or else they think government is free or they vote for everything. >> reporter: liberal analysts say those who don't pay income taxes pay
taxes. >> a little-known secret since the bush tax cuts the share of income tax paid by the wealthy increased. from 80% of all income taxes paid by the top 20% to now 86%. >> reporter: by all sorts of measures, wealthier taxpayers are shouldering more than the bottom percent. >> they earn 37% of the income but pay 60% of all the federal income taxes. the bottom 50% of earners earn about 12% of all the income but pay 3% of all the taxes. >> meeting the top 50% pay a...
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Apr 17, 2012
04/12
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you have people staking out position whether it is a buffett tax or they want to tax this or not tax that, we think there is an opportunity for comprehensive tax reform. we are not in this by ourselves. this affects u.s. taxpayers and we compete as you point out many times, all around the world. what a mess, what an embarrassment for the united states to not know what our tax structure is and tell us not to compete. >>stuart: the mother of all tax hikes coming up in vehicle, that is correct. yes? >>guest: and the tax height will be vicious and that is why elections will matter. >>stuart: they always do, always a pleasure, thank you for joining us, sir. the buffett rule. it bombed. senators shooting down plans what would force millionaires to pay a minimum tax rate. the president pushed hard for the bill named after billionaire investor warren buffett but my next guest did not obey orders. democrat senator pryor the only democrat to vote against the buffett rule. why? >>guest: several reasons, one, when i travel the state of arkansas people are tired of the partisan games they see in
you have people staking out position whether it is a buffett tax or they want to tax this or not tax that, we think there is an opportunity for comprehensive tax reform. we are not in this by ourselves. this affects u.s. taxpayers and we compete as you point out many times, all around the world. what a mess, what an embarrassment for the united states to not know what our tax structure is and tell us not to compete. >>stuart: the mother of all tax hikes coming up in vehicle, that is...
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Oct 6, 2010
10/10
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we're not talking about tax cuts. we're talking about tax increases. don't look at these at what you're going to get. that's what are they going to take. you already have this money. you've got it. he's going to preserve these tax cuts. so, in other words, you're not going to feel some tax cuts here but you are going to start feeling tax cuts over here. at -- i know he is not going to break his promise so i'm sure it's not $200,000, but $250,000. but that's the kind of big heart they have. they're going to let you keep some of the money. but wait, there is even more. >> under the republican plan, however, people making more than $1 million a year, they are going to get a tax cut of more than $100,000. >> glenn: no! >> that's expensivexpensive. >> glenn: no, they're not going to get a tax cut. ten years ago they got the tax cut. ten years ago. it's not a tax cut they're going to get. they're going to have a tax hike. got it? this is where i like to break it down. austan, may i squeeze in here? any marxist minded officials in the administration can under
we're not talking about tax cuts. we're talking about tax increases. don't look at these at what you're going to get. that's what are they going to take. you already have this money. you've got it. he's going to preserve these tax cuts. so, in other words, you're not going to feel some tax cuts here but you are going to start feeling tax cuts over here. at -- i know he is not going to break his promise so i'm sure it's not $200,000, but $250,000. but that's the kind of big heart they have....
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Sep 18, 2011
09/11
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you would eliminate payroll tax, estate tax and tax on capital gains. question, what do you think that would do for the economy? >> it would boost the economy. here's why: think about the fact that corporations now are looking at for the next year and few months, a 35% corporate tax rate. to wake up and say you mean the tax rate is going to be 9%? that is going to inspire the business community. secondly, small businesses which generate most jobs are going to be excited. it is going to treat subchapter s and s corporations the same. the president doesn't understand and a lot of people don't understand when he throws around numbers like everybody making over $250,000 impose another tax, he's punishing small business. with the subchapter s corporation, if you eke out a profit, you have to run it through your personal income tax and you could be penalized, if you make too much money. >> chris: you say this plan would be revenue neutral. reduce rates, lower rates, eliminate deductions and we would end up with the same amount of total revenue for the governm
you would eliminate payroll tax, estate tax and tax on capital gains. question, what do you think that would do for the economy? >> it would boost the economy. here's why: think about the fact that corporations now are looking at for the next year and few months, a 35% corporate tax rate. to wake up and say you mean the tax rate is going to be 9%? that is going to inspire the business community. secondly, small businesses which generate most jobs are going to be excited. it is going to...
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Feb 9, 2013
02/13
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estate taxes, obamacare taxes and americans are taxed to death and proves dagen's point. there's a malaise and we saw it in consumer confidence means, now what, taxes aren't going to do the trick. >> you know, we shout a lot, but in here, we actually are getting into real disagreements how to solve problems. at the beginning gary said every program they run shall meaning the government is bankrupt. not the f.d.a., not f.a.a., not interstate highway system. we need our government we need to figure how to make it work not to say let's do away with it. >> i keep hearing they need more money for the interstate highway. see this debt mounting, is that why the administration just got suing. tdd#: 1-800-345-2550 like no atm fees, worldwide. tdd#: 1-800-345-2550 and no nuisance fees. tdd#: 1-800-345-2550 plus deposit ches with mobile deposit. tdd#: 1-800-345-2550 and manage your cash and investments tdd#: 1-800-345-2550 with schwab's mobile app. tdd#: 1-800-345-2550 no wonder schwab bank has grown to over 70 billion in assets. tdd#: 1-800-345-2550 so if you're looking for a bank
estate taxes, obamacare taxes and americans are taxed to death and proves dagen's point. there's a malaise and we saw it in consumer confidence means, now what, taxes aren't going to do the trick. >> you know, we shout a lot, but in here, we actually are getting into real disagreements how to solve problems. at the beginning gary said every program they run shall meaning the government is bankrupt. not the f.d.a., not f.a.a., not interstate highway system. we need our government we need...
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Feb 8, 2010
02/10
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keep the tax cuts -- >> tax hike in a recession. that's what it is. >> it's not for the normal person, 98% of the people in the country won't get a tax hike. those tax cuts were put in place during george bush's presidency and stay in place. >> corporaller congressman martin frost a pleasure. thanks for joining us. >> thank you. >> miranda rights gone wrong, top republicans saying they were not clued in on how the white house handled the christmas day terror suspect. one of those republicans is here and he's next. [ male announcer ] say hello to everyone who is taking a different view on security. and that's almost everyone. the people who want the comfort of a company close by. the people who want the strength of a company like broadview security -- a company that protects nationwide. the people who believe security means feeling secure enough to open the door and let life come in. say hello to the people who are taking a different view on security for your home and business. a broader view. broadview security. ♪ >> in the loop o
keep the tax cuts -- >> tax hike in a recession. that's what it is. >> it's not for the normal person, 98% of the people in the country won't get a tax hike. those tax cuts were put in place during george bush's presidency and stay in place. >> corporaller congressman martin frost a pleasure. thanks for joining us. >> thank you. >> miranda rights gone wrong, top republicans saying they were not clued in on how the white house handled the christmas day terror...
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Jul 17, 2010
07/10
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you raise taxes. countries like sweden that have high taxes and switzerland people are talking about them right now. >> brenda: gary b, i know you agree with that. >> jonas packed a lot of into that little segment there. but you know what amazes me about this administration is that they, first of all, they seem to be tone deaf on what people really want or think. but the other thing they never seem to do, they never go back in history and say what's happened when we raise taxes, what's happened when we lower taxes. we have evidence of this almost in the reverse, you know, the reagan tax cuts that took effect in january, '83 were announced, much prior to that, and what happened in 1981, and in 1982, is that economic activity slowed to its stand still. in fact, the gdp in that time was pretty much flat and unemployment went up to 10%. they announced the tax cuts in 1983, and gdp took off 5 1/2% in 83, 7 1/2% growth in 1984. of course, from 1983 on, from the next 15 years we had the best is a years of ou
you raise taxes. countries like sweden that have high taxes and switzerland people are talking about them right now. >> brenda: gary b, i know you agree with that. >> jonas packed a lot of into that little segment there. but you know what amazes me about this administration is that they, first of all, they seem to be tone deaf on what people really want or think. but the other thing they never seem to do, they never go back in history and say what's happened when we raise taxes,...
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Apr 15, 2013
04/13
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think you agree we don't need to tinker with the tax code, we need to eliminate the tax code. how much retirement money is enough? president obama seems to know. the budget that he's proposing calls for a 3 million dollar cap on ira's and 401(k)'s, and you can't save anymore tax-free money after that. that may not affect many people now, but if you're a young person starting out now and making the maximum contributions of a 3 million dollar nest egg, it's possible over 40 years. and joining me now, congressman on the budget committee and congresswoman, it's a pleasure to have you here, thanks for joining me. >> oh, it's good to see you as well, governor. thank you so much. >> this idea of capping retirement, i mean, that seems like you're now encouraging people not to save for retirement and that the government has a better idea of how much we really ought to set aside than we do. >> shocking, isn't it? and i think that this is nothing more, governor, as you and i both know, this is another back door tax increase. and it's a shame because i can tell you, you know, hoosiers in
think you agree we don't need to tinker with the tax code, we need to eliminate the tax code. how much retirement money is enough? president obama seems to know. the budget that he's proposing calls for a 3 million dollar cap on ira's and 401(k)'s, and you can't save anymore tax-free money after that. that may not affect many people now, but if you're a young person starting out now and making the maximum contributions of a 3 million dollar nest egg, it's possible over 40 years. and joining me...
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Nov 28, 2011
11/11
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>> what i am calling for on tax reform is the loopholes and deductions on individual income tax side. subsidies on the corporate side which allows us to lower the rate broaden the base and simplify which is what i did. >> it would be a revenue neutral exercise. >> absolutely. i think raising the revenue which some people might be against but reinvesting it into the tax code on the individual and corporate said is something they need. cut tax reform meaningful waist since 96 it is high time we get to doing it. >> first of all foreign policy which is one of your strong suits the pakistani military says nato hit two border checkpoints this weekend killing at least 24 of theirs in response they wanted the u.s. to shut down one air base they closed two main supply roots in afghanistan supply 40 percent of nato equipment and supplies. what would they do in this serious operation? >> condolences on the 25 pakistani soldier losses. second of all i would recognize exactly what u.s. pakistani relationship has become which is a transaction of a relationship. i would look at what we can expect fr
>> what i am calling for on tax reform is the loopholes and deductions on individual income tax side. subsidies on the corporate side which allows us to lower the rate broaden the base and simplify which is what i did. >> it would be a revenue neutral exercise. >> absolutely. i think raising the revenue which some people might be against but reinvesting it into the tax code on the individual and corporate said is something they need. cut tax reform meaningful waist since 96 it...
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Feb 25, 2012
02/12
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>> we should point out that people do pay payroll taxes update. >> neil: absolutely. >> taxes and other-- >> join the club to everybody. to charles' point it becomes problematic when you have one out of five americans receiving some form of federal assistance and then half of americans are paying no federal income tax, so, you have almost half the population are voting in people who are going to increase with, you know, without paying any taxes and increase those entitlements and the problem is, anytime you talk about broadening the base and making people pay a little bit of tax, somebody on the right or the left is going to talk about, well, you're raising so many taxes and that's in the-- >> and the sales tax is incredibly regress seive, right? right? >> and i'll say right. >> thank you, but poor people pay as much as rich people pay, so. >> and the portion. >> if a poor person buys a $200 nikes. >> sales taxes don't pay for our defense. >> whatever, i'm telling you that poor people pay taxes and we must not leave that out of the equation and i think they're regress seive. >> my only
>> we should point out that people do pay payroll taxes update. >> neil: absolutely. >> taxes and other-- >> join the club to everybody. to charles' point it becomes problematic when you have one out of five americans receiving some form of federal assistance and then half of americans are paying no federal income tax, so, you have almost half the population are voting in people who are going to increase with, you know, without paying any taxes and increase those...
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Apr 8, 2010
04/10
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this major tax it hits the middle class. in addition to state sales taxes. a lot of states have hired 6, 8, some 10%. if you have 18 or 20% value added tax you are talking about 25% sales tax at the cash register every time you buy food, groceries, diapers, school supplies, just about anything would be taxed. >> greta: paul volcker saying this one of the first acknowledgements out of the administration that we are in a deep economic situation as it relates to our deficit and budget. we've been spending wildly in the hope of stimulating the economy to create jobs so people would pay income tax to run the government. if we are finding out we have to go out and raise taxes possibly as a value added tax or national sales tax that is an acknowledgement that perhaps those jobs were not created by the stimulus to generate the income -- this is disheartening.c' unless paul serve having an intellectual discussion on how you raise money he's an academic-type. >> i think paul volcker knows. i've talked to people at the white house, i've talked to member of congress. th
this major tax it hits the middle class. in addition to state sales taxes. a lot of states have hired 6, 8, some 10%. if you have 18 or 20% value added tax you are talking about 25% sales tax at the cash register every time you buy food, groceries, diapers, school supplies, just about anything would be taxed. >> greta: paul volcker saying this one of the first acknowledgements out of the administration that we are in a deep economic situation as it relates to our deficit and budget. we've...
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Dec 1, 2010
12/10
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>>guest: a tax increase is a tax increase is a tax increase. no, wrote think you are better off with a tax increase. they need to look at entitlements and social security, medicaid, medicare, and actually go to the heart of what is causing government on grow. >>neil: you are not for what the debt commission has come up with? >> no, raising taxes is not an option. compromise is not an option. we have an opportunity to get it right. let's go back, admit mistakes and say it is time not just for talk but real action and make sure tax increases is not part that action. >>neil: congratulations again. a crazy day i know and we appreciate you taking the time. well, bill says it's a pill causing a -- calling a certain report "debt on arrival." [ male announcer ] print from any mobile vice so your ideas can be there even when you're not. introducing the new web-connected printers with eprint from hp. is a powerful force. set it in motion... and it goes out into the world like fuel for the economy. one opportunity leading to another... and another. we all
>>guest: a tax increase is a tax increase is a tax increase. no, wrote think you are better off with a tax increase. they need to look at entitlements and social security, medicaid, medicare, and actually go to the heart of what is causing government on grow. >>neil: you are not for what the debt commission has come up with? >> no, raising taxes is not an option. compromise is not an option. we have an opportunity to get it right. let's go back, admit mistakes and say it is...
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Dec 15, 2010
12/10
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>> yeah. >> sean: property tax, sales tax, city tax, 55. you think the government has a right to 55% of people's money. >> no, we should cut the spending. >> i agree with that. [ talking over each other ] >> there are all these earmarks, clearly the democrats have not gotten the message. >> look at the earmarks, mcconnell's earmarks. they are all doing the earmarks. >> anybody in favor of the earmarks that's a huge problem. we need to look at how you incentivize job growth. you do it by cutting taxes. we should increase tax cuts. we should unleash the private sector and the businesses. >> sean: bingo. >> there's a new day in washington. everyone in washington needs to wake up that the spending, the flood that has been going on for years has to stop. people are tired of it. >> now! >> what i'm saying is, cut taxes, cut spending. increase taxes, keep spending going and we're -- >> sean: democrats want to raise taxes on small business and wealthy. >> extending those would increase deficit -- >> no it is not. [ talking over each other ] >> no,
>> yeah. >> sean: property tax, sales tax, city tax, 55. you think the government has a right to 55% of people's money. >> no, we should cut the spending. >> i agree with that. [ talking over each other ] >> there are all these earmarks, clearly the democrats have not gotten the message. >> look at the earmarks, mcconnell's earmarks. they are all doing the earmarks. >> anybody in favor of the earmarks that's a huge problem. we need to look at how you...
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Feb 2, 2013
02/13
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about tax hikes. is that the wrong message? >> yeah. it's the wrong message. let's go back to when toby was a teen-ager under calvin coolidge. [ laughter ] he took down woodrow wilson's high rate all the way down, created a huge boom. ronald reagan did the same thing. the democrats have railed against the bush tax cuts. they made them permanent. and now they realize oh, my goodness, we need revenue. here is the problem. this isn't just a blip. we have structural unemployment. we have the lowest labor force participation since the early '80s. that's more than a blip. that's structural unemployment and this country is not designed to handle that. we could double, 100% raise taxes on americans, we would take $1.1 trillion. we can't get there through tax increases alone. we have to deal with spending cuts cuts and entitlements. >> we do need growth. part of what the president has been talking about and the democrat social security creating a balanced package. there will be some spending cuts but there are
about tax hikes. is that the wrong message? >> yeah. it's the wrong message. let's go back to when toby was a teen-ager under calvin coolidge. [ laughter ] he took down woodrow wilson's high rate all the way down, created a huge boom. ronald reagan did the same thing. the democrats have railed against the bush tax cuts. they made them permanent. and now they realize oh, my goodness, we need revenue. here is the problem. this isn't just a blip. we have structural unemployment. we have the...
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Apr 23, 2010
04/10
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you add to that, county taxes, property taxes, 9 or 10% sales taxes or 7, 8, 9% sales tax and everything else, we are at 70% in a state like northern. that's without the value added tax. >> you make a good point. i recall in the 90s, i went around and did seminars in the upper midwest on tax burden. i took self-employed people because they were my trade social and added that up and got input from the group always. we would add up the federal income tax, state income tax and excise taxes and we would get over 50%. i would save the sales tax until last 50% on everything else you are paying that with after tax income as a rule so you double that number if it is 7% sales tax it is 14. we found even then we were between 65 and 75% tax liability. when you add the property tack the way you say it does come to a number that is in that 75% range. and the burden of government is so great, that it has diminished the vital activity private sector what is left of america. if we are going to take this country up to the next level above the shining city on the hill that we have become because of ronald
you add to that, county taxes, property taxes, 9 or 10% sales taxes or 7, 8, 9% sales tax and everything else, we are at 70% in a state like northern. that's without the value added tax. >> you make a good point. i recall in the 90s, i went around and did seminars in the upper midwest on tax burden. i took self-employed people because they were my trade social and added that up and got input from the group always. we would add up the federal income tax, state income tax and excise taxes...
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Oct 3, 2010
10/10
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you close witness more tax increase, property taxes and sales taxes. it hits a wauchl you can't play that game anymore. >> this is a strictly partisan issue. you can see in states connecticut, jody rel, big, big tax increase in connecticut. schwartzeneggar came in and said he won't raise taxes with n.california. went along with a big tax increase. is that having an impact on the ground this year as republicans try to make gains? >> absolutely, it does. we showed an ad from indiana, south jersey congressional race. someone is paying for their supportive tax increases. in those states i disagree to say people in new york or california are never learning. i think they are learning. i won't call out karly fiorina or meg whitman. >> right there. is a big reaction against the taxing and spending. fiorina is offering a very pro market limited government message against democratic incumbent most years. it's not a winning idea in california. but she's very competitive. this is an issue. >> you know what? one thing i find interesting is that a lot of governors a
you close witness more tax increase, property taxes and sales taxes. it hits a wauchl you can't play that game anymore. >> this is a strictly partisan issue. you can see in states connecticut, jody rel, big, big tax increase in connecticut. schwartzeneggar came in and said he won't raise taxes with n.california. went along with a big tax increase. is that having an impact on the ground this year as republicans try to make gains? >> absolutely, it does. we showed an ad from indiana,...
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May 29, 2011
05/11
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it seems to me that there ought to be taxes, you ought to pay taxes it's $160,000 in payroll taxes. you ought to pay it for as much as you earn. >> there are a number of plans that will be proposing that. >> glad to hear that. >> i didn't get a chance to address it, but you pay a larger, you know, social security tax and larger percentage of your income. >> and investment in transportation, infrastructure and put people back to work, you let the great free markets, you saw what happened, it put us in the greatest recession in history. there ought to be a tax on big banks. i think it's brilliant. and don't pay attention to this because these people are slightly behind the curve -- >> yod audience, chill on the booing here. we want to give people a chance to present their point. thank you, judges. we will have the official vote later. when we return two, conservative think tanks face off. ♪ [ male announcer ] in 2011, at is at work, building up our wireless network all across america. we're adding new cell sites... increasing network capacity, and investing billions of dollars to im
it seems to me that there ought to be taxes, you ought to pay taxes it's $160,000 in payroll taxes. you ought to pay it for as much as you earn. >> there are a number of plans that will be proposing that. >> glad to hear that. >> i didn't get a chance to address it, but you pay a larger, you know, social security tax and larger percentage of your income. >> and investment in transportation, infrastructure and put people back to work, you let the great free markets, you...
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Jun 30, 2012
06/12
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> it is an income tax and medical devices tax. tanning tax. >> tanning tax not for me. for john boehner maybe not for me. if you are calling it a tax is there a federal clause issue, if you are calling it a tax, romney care was lass tax and again the exact same thing. >> i'm not defending romney care but the democrats want to run away from the decision. >> who is going to be the messenger for the republican party, the guy who was the architect. he is raising it today before the blowback begins but until people realize. >> what blowback? >> it is unpopular. >> the blowback on the debate when barack obama or anybody else decides to talk mitt romney on this and say look this is based on -- >> did the president lie when said i will not tax the middle class? >> no that was not a lie. >> did he lie to george stephanopoulos when said it wasn't a tax. >> justice roberts said this was a tax. >> justice roberts, the president came forward and said it was not a tax. did he lie? >> just because justice roberts said it was a tax does not mean
> it is an income tax and medical devices tax. tanning tax. >> tanning tax not for me. for john boehner maybe not for me. if you are calling it a tax is there a federal clause issue, if you are calling it a tax, romney care was lass tax and again the exact same thing. >> i'm not defending romney care but the democrats want to run away from the decision. >> who is going to be the messenger for the republican party, the guy who was the architect. he is raising it today before...
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Sep 18, 2010
09/10
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it is about taxes, but why, you know, cutting taxes? the idea is that there's a limit to what government can improve our lives and there's a point where it gets too big and hurts the economy and it hurts our prosperity and this is a bigger message and, now, sort of an old name. so, just going back to the sound economic policy and that would have to be a reduction in the total spending on government that was current with these extending the current taxes, because that 2%, guys, remember, pays about 50% of all taxes and that would hit the hardest point. >> gary b. tax cuts for everyone, that's the basic message. is that getting through to d.c.? >> i think it is, brenda. you know, and this is not just a tea party. you know, the tea party is getting a lot of the press right now, but i think this is really striking at the whole core of the obama administration policies. i think in fact, if you're any incumbent, republican or democrat, who is not thinking about a smaller government and b, lower taxes, you're in trouble. i think the tea party
it is about taxes, but why, you know, cutting taxes? the idea is that there's a limit to what government can improve our lives and there's a point where it gets too big and hurts the economy and it hurts our prosperity and this is a bigger message and, now, sort of an old name. so, just going back to the sound economic policy and that would have to be a reduction in the total spending on government that was current with these extending the current taxes, because that 2%, guys, remember, pays...
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Apr 14, 2012
04/12
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you say you think this tax season is taxing. just wait. >> you know, brenda, i think in 2013, we're going to have to all move to the cayman islands. it's going to be a lot better there than it is here because, you know, brenda, heritage foundation called 2013 tax-mageddon. here's why. the average household here in the u.s. will see tax increases of $3800. you know, that comes from the expiration of the bush one and two tax cuts. expiration of the payroll tax cuts, obamacare increases and i heard obama is talking about this buffet tax, maybe we'll get that also and you know, brenda, here's the worst part. the primary focus on these taxes are going to be the middle and low income households because that's where the bulk of the bush tax cuts went to. in 2013, it's not going to be a very good year for anyone and the economy, brenda. >> ok, you are a small business owner. you are hiring tomorrow, what's this doing for your confidence and for your plans for the future? >> i haven't been confident in the longest -- i don't know if i kn
you say you think this tax season is taxing. just wait. >> you know, brenda, i think in 2013, we're going to have to all move to the cayman islands. it's going to be a lot better there than it is here because, you know, brenda, heritage foundation called 2013 tax-mageddon. here's why. the average household here in the u.s. will see tax increases of $3800. you know, that comes from the expiration of the bush one and two tax cuts. expiration of the payroll tax cuts, obamacare increases and...
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Oct 2, 2010
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we haven't seen tax taxes -- state taxes jump this high since carter was in office. >> look at 1937 you raise taxes in a recession you push the economy further in a recession this isn't about taxes. texas vs. california, perfect example. california has huge taxes, huge government, they also have huge unemployment, unfunded pension liabilities they will never meet. they are writing iou's to creditors, pasadenaing on debt, asking state employees to take -- furloughs. no state income tax. texas is running a nine billion dollar surplus, low unemployment. texas has a full rainy day fun. these states ned need to come to texas, sit at feast governor perry. >> and you will eat well, try the catfish. i recollection machine it. tracy let's talk about new jersey where you are. property taxes, jersey up 22% this modest town getting hammered. >> right, right, right john is right we need lower state taxes. we are in such a mess we can. governor christie said he wants to bring them from 9% to 6 states are so broke. utah is doing it lower taxes bringing business in. you get states like washington even
we haven't seen tax taxes -- state taxes jump this high since carter was in office. >> look at 1937 you raise taxes in a recession you push the economy further in a recession this isn't about taxes. texas vs. california, perfect example. california has huge taxes, huge government, they also have huge unemployment, unfunded pension liabilities they will never meet. they are writing iou's to creditors, pasadenaing on debt, asking state employees to take -- furloughs. no state income tax....
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Jun 9, 2012
06/12
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took off under the kennedy tax cuts and reagan tax cuts and it took off under the tax cuts we're talking about now, the bush tax cuts. is the level point, yeah, clinton raised taxes, sure he did, but the economy took off under clinton when he cut under the capital gains laws. and the evidence is in and makes so much sense to me, it would be ludicrous to let the tax cuts expire. >> brenda: jonas, the white house press secretary did make clear this week that the president will not extend the tax cuts to the wealthiest americans. is that going to hurt the economy? is that going to hurt job creation? >> there's no part of the economy you can tax and not cause some sort of drag on job creation or the economy. whether it's on the upper brackets or the lower brackets. you can tax workers and all of a sudden want higher wages and that's going to hurt job creators as well. and one thing worse than raising taxes in an economy. it's when the government collapses and that's really what's happened in the other countries, not that they raised taxes and increases, but they are going under because they
took off under the kennedy tax cuts and reagan tax cuts and it took off under the tax cuts we're talking about now, the bush tax cuts. is the level point, yeah, clinton raised taxes, sure he did, but the economy took off under clinton when he cut under the capital gains laws. and the evidence is in and makes so much sense to me, it would be ludicrous to let the tax cuts expire. >> brenda: jonas, the white house press secretary did make clear this week that the president will not extend...
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Dec 11, 2010
12/10
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not the old argument over the bush tax cuts. >> sean: tax reform, i'm with you. even the president has indicated he might go down that road. do you cut any slack to the inasmuch as it is still nancy pelosi's house. it is still harry reid in the senate. still obama in the white house this is a lame duck session. >> the problem is, when your leadership makes a deal -- you can argue it has been corrupt and amened and thus reneged on. you can argue that. i'm not sure that is an honest argument. when your leadership makes a commitment, you got to be honorable about it and stay with it and though i think it is a mistake. the leadership right now cannot renege. if i were a senator i would oppose it. i'm not sure republicans en masse can walk away from a deal. >> if i were you i would call clinton and say whatever you do, please done praise me again. >> psychiatry awaits me. my career is done. >> sean: kharls krauthammer, thanks. >> pleasure. >> plenty more hannity, straight ahead. -- >> up to congress to pass it. >> democrats ease their pain over the tax cut deal by stu
not the old argument over the bush tax cuts. >> sean: tax reform, i'm with you. even the president has indicated he might go down that road. do you cut any slack to the inasmuch as it is still nancy pelosi's house. it is still harry reid in the senate. still obama in the white house this is a lame duck session. >> the problem is, when your leadership makes a deal -- you can argue it has been corrupt and amened and thus reneged on. you can argue that. i'm not sure that is an honest...
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Apr 16, 2011
04/11
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tax. i'm getting tired of everything is bad or a tax or nothing in between. >> brenda: hold on, i want to get jonas. you agree with that and say in fact, this might be the best of the worst, right. >> yeah, forget the specifics, the taxes should be high enough it raises general revenue to pay off the deficit. i think it's clear from the last week's deficit arguments that no one could make the deficits go away in relatively short, without. a, a new tax in an addition to a major cut. when you compare thm i hem, aid that's whatting go happen if we don't raise the money somewhere else and what's the least drag on the economy. i would say a tax and fuel and i'll tell you why. a lower consumption of gasoline which means less money going abroad and good for the balance of trade and again, it doesn't stop you from hiring people. >> wow, wow. >> and taxes rate-- >> you guys, stop talking like you raise the, you need to raise my taxes. >> jonas. >> and this is one to raise. and when you come up with
tax. i'm getting tired of everything is bad or a tax or nothing in between. >> brenda: hold on, i want to get jonas. you agree with that and say in fact, this might be the best of the worst, right. >> yeah, forget the specifics, the taxes should be high enough it raises general revenue to pay off the deficit. i think it's clear from the last week's deficit arguments that no one could make the deficits go away in relatively short, without. a, a new tax in an addition to a major cut....
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Sep 16, 2010
09/10
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they are not new tax cuts they are the existing tax code. anybody who is not in favor of extending them is in favor of a tax increase. >> greta: even for the rich? >> that's class warfare. the idea we should raise taxes on anybody is mind-boggling given the environment we are living in now many they label these folks as rich. what they are is 30% of consumer spending in america will be impacted. significant number of small businesses. not to mention these other taxes that will go up, capital gains, tax on dividends, et cetera. i think there's a groaning census across party lines with five democratic senators lined up in the senate saying they oppose the increases. raising taxes on anybody give then this economic climate is wrong. >> greta: i suspect you don't like the health care bill is that fair? >> i think it should be repealed. >> greta: the different between not liking the direction or the idea or the policy or what it is doing, there's a difference between that and whether or not it is constitutional or not. >> they are two different i
they are not new tax cuts they are the existing tax code. anybody who is not in favor of extending them is in favor of a tax increase. >> greta: even for the rich? >> that's class warfare. the idea we should raise taxes on anybody is mind-boggling given the environment we are living in now many they label these folks as rich. what they are is 30% of consumer spending in america will be impacted. significant number of small businesses. not to mention these other taxes that will go...
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Jun 30, 2011
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. >> tax cuts we get rid of are tax breaks for millionaires and billionaires for oil companies or hedge fund managers and corporate jet owners. >> with the economy in turmoil, is president obama playing class warrior in chief? today he tried to make his case in his first press conference in months. did it work? >> we've got to raise taxes. the deficit situation is so serious. we can't cut spending enough. >> actor and republican economist ben stein says we must raise taxes. what? wouldn't it hurt the fragile economy. he will be here. >> occupy to that moment had you held out the hope that caylee would be found alive? >> absolutely. every day from 15th. >> an emotional day on the stand for casey anthony's father as he talks about the pain of losing his granddaughter caylee. we'll run down the heartbreaking testimony in the courtroom. >> the factor begins right now. >>> hi, i'm laura ingraham in for bill o'reilly. today the president held a press conference and most of the questions focused on our dismal economy and the stalled debt negotiations. the president painted a scary vision of am
. >> tax cuts we get rid of are tax breaks for millionaires and billionaires for oil companies or hedge fund managers and corporate jet owners. >> with the economy in turmoil, is president obama playing class warrior in chief? today he tried to make his case in his first press conference in months. did it work? >> we've got to raise taxes. the deficit situation is so serious. we can't cut spending enough. >> actor and republican economist ben stein says we must raise...
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Jun 29, 2012
06/12
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news, george stephanopoulos, and it's not a tax, i'm sick of people calling it a tax, it is not a tax, he said, and then he has his lawyer, this and this is what is important, the solicitor general goes up to the supreme court of the united states and argues it's a tax. reluctantly because they didn't want to say it was a tax but that's exactly what the chief justice and four other justices found were we now have the greatest tax increase on the middle class and at the same time we are going to destroy the healthcare system in the united states. what romney said was correct. the supreme court did not say this is good law. they did not say it is good policy. in fact the chief justice makes a statement toward the end of that opinion that it is not his job to protect citizens from elected officials that enact policies likes that. that's the job of the citizens of the united states. and i think message will be heard. but a bad day for could be could be conservatives today. >> he said the court is left to interpret the law and they don't have the expertise or to make policy decisions. and
news, george stephanopoulos, and it's not a tax, i'm sick of people calling it a tax, it is not a tax, he said, and then he has his lawyer, this and this is what is important, the solicitor general goes up to the supreme court of the united states and argues it's a tax. reluctantly because they didn't want to say it was a tax but that's exactly what the chief justice and four other justices found were we now have the greatest tax increase on the middle class and at the same time we are going to...
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Sep 24, 2011
09/11
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so you have the city tax, the state tax. and the corporate tax. businesses in new york city and llc are paying 50% plus. now you tell me that is not the highest in the world. i will tell you that you are wrong. we've got to do something about this. talk about the loophole and corporate tax. broadening the base is the dumbest argument i've heard. what are you going to do, tax them at 70%? we have to do something to scrap the system and start over. >> cheryl: jonathan, really -- before i let you, you're mr. emerging market and investments overseas, there is a reason that companies are moving overseas, hiring overseas, not hiring in this country. they say it's because of the taxes. >> of course, cheryl. taxes are a direct, they are an obvious cost. companies are hurt by higher taxes who are companies. i know the president on the left would like to think companies are some other thing. but of course they are individuals and opened by the individuals. coin a new phrase what is good for companies is good for american individuals. that is where we get th
so you have the city tax, the state tax. and the corporate tax. businesses in new york city and llc are paying 50% plus. now you tell me that is not the highest in the world. i will tell you that you are wrong. we've got to do something about this. talk about the loophole and corporate tax. broadening the base is the dumbest argument i've heard. what are you going to do, tax them at 70%? we have to do something to scrap the system and start over. >> cheryl: jonathan, really -- before i...
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147
Apr 15, 2010
04/10
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fuel permit tax, hunting license hachl, inher tebs tax, property tax. service charge tax. rolled usage tax. you go down the road, they are clicking number as way saying you owe us for walking up in this bad boy. and wait. it gets better, telephone, federal excise tax, universal fee tax, telephone federal state and local surcharge tax. telephone minimum usage tax. telephone recurring and nonrecurring charges tax. telephone state and local tax. telephone usage charge tax. vehicle license tax. well permit, worker's compensation. do you know what? kiss my behind! kiss my behind sclam. >> we're kissing that kiss my whatever doesn't work with the irs. that is your last call. we're closing down shop. we'll see you all again
fuel permit tax, hunting license hachl, inher tebs tax, property tax. service charge tax. rolled usage tax. you go down the road, they are clicking number as way saying you owe us for walking up in this bad boy. and wait. it gets better, telephone, federal excise tax, universal fee tax, telephone federal state and local surcharge tax. telephone minimum usage tax. telephone recurring and nonrecurring charges tax. telephone state and local tax. telephone usage charge tax. vehicle license tax....
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155
Apr 8, 2010
04/10
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they get a tax credit. they get a check from the government to help them pay their social security taxes or other tax credits, because they have refundable tax credits. if you have a family of four and a dependent tax credit, childcare tax credit you can have -- make not enough to pay income taxes and then get a credit on top of that so you get a check when you file your return. >> greta: these people are not fabulously rich. these are people who barely -- very limited income. >> in the case of -- >> greta: poverty level. >> no, no people who are earning $50,000 a year who have kids, four kids. and they because of deductions and other things they don't pay income taxes and they are eligible for a refundable tax credit. >> greta: here's another interesting statistic. the top 10% of earners pay 73% of taxes collected. and the top pen% didn't have an impact until i saw the top 10% were making $366,000 a year. i was thinking that meant only the multi-millionaires. people making $366,000 a year. >> you can have
they get a tax credit. they get a check from the government to help them pay their social security taxes or other tax credits, because they have refundable tax credits. if you have a family of four and a dependent tax credit, childcare tax credit you can have -- make not enough to pay income taxes and then get a credit on top of that so you get a check when you file your return. >> greta: these people are not fabulously rich. these are people who barely -- very limited income. >> in...
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117
Jun 29, 2012
06/12
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news, george stephanopoulos, and it's not a tax, i'm sick of people calling it a tax, it is not a tax, he said, and then he has his lawyer, this and this is what is important, the solicitor general goes up to the supreme court of the united states and argues it's a tax. reluctantly because they didn't want to say it was a tax but that's exactly what the chief justice and four other justices found were we now have the greatest tax increase on the middle class and at the same time we are going to destroy the healthcare system in the united states. what romney said was correct. the supreme court did not say this is good law. they did not say it is good policy. in fact the chief justice makes a statement toward the end of that opinion that it is not his job to protect citizens from elected officials that enact policies likes that. that's the job of the citizens of the united states. and i think message will be heard. but a bad day for could be could be conservatives today. >> he said the court is left to interpret the law and they don't have the expertise or to make policy decisions. and
news, george stephanopoulos, and it's not a tax, i'm sick of people calling it a tax, it is not a tax, he said, and then he has his lawyer, this and this is what is important, the solicitor general goes up to the supreme court of the united states and argues it's a tax. reluctantly because they didn't want to say it was a tax but that's exactly what the chief justice and four other justices found were we now have the greatest tax increase on the middle class and at the same time we are going to...